Originally Posted by
marcal
What a joke! All of a sudden these guys are such practical thinkers? Last week they shot down the VB after a few loose cannons let loose on social media over some trips being moved and a TEST PERIOD that wasn't even utilized.
Now, we're supposed to see them for their rational thought process on retirement? Retirement that we've seen decimated at the corporate level but hey? Why not try it again? No thanks.
Nothing is acceptable if it isn't 100% controlled by me, in my name.
Fool me once, shame on you. Fool me twice, shame on me.
Those pro-pension restoration types are vocal, but they are in the minority by a large margin. I can count on one hand the number of CA’s that I’ve flown with who still think a pension is a good thing....even when I ask how the last one is working out for them.
I would love to see one of them make a rational argument on why someone with 20-30 years left in their career should give up 16%(or more) in 401K contributions for the promise from the company and the union to take care of their retirement later.
They reality for them is that even if a pension lasted for a few years into their retirement before it went bust they would be better off dollar wise then a larger DC percentage. They just can’t use that argument or rationale to change a young persons mind about restarting a pension scheme because their true motivations will be revealed.
I wonder how many of them, if they could have a do over would still take a pension with the known risks, vs a DC with the known risks?
I take my money upfront and assume the much smaller risk.